Gold Risks Pullback to $4,215/oz as Short-Term Momentum Weakens – World Gold Council

The World Gold Council points out that conflicting signals from the US Treasury and the Fed have overall pressured gold, causing prices to fall while global bond yields climb. Analysts stress the Treasury seeks lower yields and the Fed targets lower inflation without harming the economy, yet Chair Warsh’s hawkish remarks have boosted rate-hike expectations. Hot inflation figures and the Jackson Hole speech raised gold’s opportunity cost. ETF inflows slowed, futures net longs increased, while options bullish bets eased slightly. Technically, gold risks a drop toward the 55-day average at $4,215 per ounce as momentum fades. Support sits at the mid-August low of $4,311, resistance at the 200-day average near $4,530, and a break higher could retest recent peaks of $4,769–$4,774.